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A Theory of Profit and Interest

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  • L. Kotany

Abstract

New sources of reliable data, 414. — I. The facts: primary and secondary data, 415. — Examples in industry, the laws of the optimum and of the two returns, 416. — Similarly in agriculture, 421. — The costs of production decrease with the increase in capital, examples in industry, 425. — Similarly in agriculture, 429. — Vertical integration reduces cost, 430. — Two opposing factors bring about the emergence of the three laws, 431. — II. The theory: New formulation of the two laws of return, 437. — The law of equilibrium, 442. — The emergence of the optimum size, 446. — Differences in capitals the cause of the emergence of profit, 447. — The older theories invalid, 447. — The Marxian theory is based on wrong secondary data, which assume but do not prove the conclusions, 448. — Theory of interest, 449. — Influence of both kinds of size, 451. — Influence of time, 452. — Singular position of commercial loans, 452.

Suggested Citation

  • L. Kotany, 1922. "A Theory of Profit and Interest," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 36(3), pages 413-453.
    • Handle: RePEc:oup:qjecon:v:36:y:1922:i:3:p:413-453.
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    File URL: http://hdl.handle.net/10.2307/1886032
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